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Gold dips despite softening signs of inflation
Perhaps a bit of basing and consolidation is needed for the metal to gear up for a clean breakout above $1800.
Technical Tuesday: Silver, Nasdaq and EUR/USD
In this week’s edition, we are getting technical on silver and the gold-silver ratio; Nasdaq 100, and EUR/USD.
European Open: A silver lining for bulls?
Yesterday’s bullish price action suggests there could be further upside for silver over the near-term.
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Silver: Can precious metals rebound despite Fed tightening?
We are seeing some mild dollar selling ahead of FOMC, which is boosting the appeal of precious metals, yen and franc
Precious metals start busy week firmer
Investors know that front-loading of interest rates around the world is only going to bring a potential recession – and therefore interest rate cuts – sooner.
Commitment of traders report (COT): Bulls return to the yen
Whilst traders remain heavily net-short Japanese yen futures, we’ve taken note that gross longs have risen to their highest level since March 2021.
Recession Trade Keeps Risk Assets Under Pressure
Fears over a recession continues to drive financial markets, with commodities feeling the heat
Gold eyes bounce around $1800 as stocks remain volatile
gold has been a victim of a strong US dollar and rising bond yields, making this non-interest-bearing commodity less appealing for yield seekers.
China’s service PMI gets served, base metals lower
Covid reared its ugly head again on economic data, which saw China’s service PMI contract at its fastest pace since the pandemic.
Asian Open: Futures point to a brighter open, commodities lower
Tentative signs that the war between Russia and Ukraine could end sooner than expected and hints of a compromise from Ukraine helped Wall Street bounce overnight.
Weekly COT Report: Traders abandon the ruble, flock to gold and silver
Traders continued to pile into long bets on gold and silver last week, whilst offshore ruble speculators seemingly ran for cover.
Asian Open: Ukraine crisis weighs on Europe, Silver bulls eye $26
European equity markets and the euro currency sustained heavy losses on Friday as fighting in Ukraine showed no signs of receding.
European Open: FTSE struggles at 7600, silver tries to carve out a low
Whilst the FTSE has been one of the stronger performers during a risk-off period for equities, 7600 remains a level which defies its next breakout.
Weekly COT Report: NZD flips to net-short as bulls capitulate
Kiwi bulls appeared spooked last week as we saw gross longs closed at their second fastest rate on record.
Gold outlook 2022: Will precious metals get back on track after a lacklustre 2021?
There are sufficient tailwinds in the global economy and the possibility of further geopolitical tensions to give gold support, but not necessarily drive prices higher...
Gold and Silver running into resistance. Time for a correction?
The next direction of these precious metals may depend on the inflation readings due out next week
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Asian Open: The Dollar Retains Dominance, Yet Silver Defies Its Strength
The US dollar extended gains against all its major peers. Yet that didn’t prevent silver from breaking above $25 and confirming a multi-month reversal.
Asian Open: It’s Raining Yen, Hallelujah
If weekend reports are to be believed, large stimulus packages are to be announced in Japan which include cash handouts to all children aged 18 and below, regardless of household income.
Weekly COT Report: Bulls Have All but Abandoned the Swiss Franc
The long / short ratio of bulls to bears on the Swiss franc hit a record low last week, which suggests we may be approaching a sentiment extreme for bearish positioning.
[Video] Silver Rally Falters Below $25
Silver’s short-covering rally has covered an impressive 15% rise over the past 17 session, suggesting it may be time to mean revert.
What does rising inflation and tapering mean for Silver and Gold?
As part of its support for the economy, the Federal Reserve is currently buying $120 billion of bonds per month under its quantitative easing program.
Asian Open: Wall Street Higher on Positive Earnings and Economic Data
We look on track for a strong close this week for equity markets, further cementing our view that their corrective lows were printed earlier this month.